EUR/USD Current price: 1.3340
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Early EUR/USD upward momentum reverses with US data, showing a strong improvement in weekly unemployment claims, falling to a 5-year low. While stocks are still up, positive employment in the US increases the possibility of ending QE by the end of this year. Housing US data was also positive, helping dollar regain some of the lost ground. The pair however, holds above the 1.3320 area, immediate short term support. The hourly chart, shows 20 SMA converging with the Fibonacci level in the mentioned area, while indicators turn lower in positive territory. In the 4 hours chart technical readings present a slightly bullish tone, although latest candle shows a long upper shadow, suggesting buying interest is not that strong.
Support levels: 1.3320 1.3290 1.3250
Resistance levels: 1.3370 1.3400 1.3440
GBP/USD Current price: 1.5963
View Live Chart for the GBP/USD (select the currency)
Weak Pound along with greenback post news strength drives the GBP/USD to a fresh 8-week low of 1.5954. The hourly chart shows a strong bearish acceleration taking price below 20 SMA and indicators near their midlines, supporting now, further slides. In the 4 hours chart , 20 SMA contained the pair to the upside, still with a strong bearish slope, while indicators head lower in negative territory, supporting the shorter term view.
Support levels: 1.5950 1.5920 1.5880
Resistance levels: 1.5990 1.6020 1.6060
USD/JPY Current price: 89.35
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The USD/JPY extended its recovery, firming up above the 89.00 area, although a few pips shy of this month high of 89.66. The hourly chart shows price consolidating near the highs, as indicators head north in positive territory; price has also established back above 100 and 200 SMA, that remain flat showing not enough strength to extend to fresh highs. Still and advance above mentioned 89.66 level, should expose the 90.00 area for today.
Support levels: 89.10 88.70 88.30
Resistance levels: 89.65 90.00 90.40
AUD/USD: Current price: 1.0536
View Live Chart for the AUD/USD (select the currency)
Aussie nose dive to 1.0490 against the greenback, during Asian hours, following a quite negative employment report. However, the AUD/USD found buyers in the base of its latest range, bouncing back above 1.0520 now immediate short term support. The hourly chart however, still lacks bullish strength, as price hovers above a still bearish 20 SMA while indicators remain below their midlines. Bigger time frames also show the upside limited, although clear break below mentioned low is required to see a deeper fall in the pair.
Support levels: 1.0520 1.0490 1.0450
Resistance levels: 1.0550 1.0580 1.0600
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